SOLIHULL High Street is proving popular with investors despite the global pandemic and general doom and gloom surrounding the retail sector.
The West Midlands is seeing strong demand for hot high street sites with good tenants, with a string of recent deals proving investor appetite.
Commercial agents Bond Wolfe have acquired a retail parade at 51-61 High Street, Solihull, on behalf of a retained client for an undisclosed sum.
The parade of High Street properties, with tenants including Poundland, Tui and Robert Dyas, is currently producing £320,000 in rental per annum.
James Mattin, managing director agency at Bond Wolfe, said: “We have seen a real surge in retail investment transactions across all lot sizes.
“This deal really demonstrates the increased strength of investor demand despite the global pandemic.”
Meanwhile experts are predicting a bumper year for office take up along the M42 corridor by Solihull.
Malcolm Jones, head of office agency at KWB, is confident that four deals, ranging from 10,000 sq ft to more than 30,000 sq ft, will complete during those three months.
“The M42 has always been a very popular location, but to see advanced discussions for multiple transactions all between J4 and J6 is exceptional,” he said.
Jones was commenting after official data for the second quarter underlined the Solihull-M42 market’s recovery, with 10 transactions totalling just a shade under 40,000 sq ft, almost double the total for first part of the year.
The largest deal saw fleet management specialist Rivus (previously BT Fleet) take 11,701 sq ft at 2620 Kings Court on Birmingham Business Park.
“However, the stand-out influence on Q2 was the construction sector,” said Malcolm.
“An architectural practice, a construction company, a civil engineering business and a building services’ provider all signed for space, and their combined 16,314 sq ft represented 41% of the total take-up during the period.”